According to a new report, published by KBV research, The Global In-Plant Logistics Market size is expected to reach $24.5 billion by 2030, rising at a market growth of 10.4% CAGR during the forecast period.
The Storage Facilities segment is experiencing a CAGR of 10.7% during (2023 - 2030). Efficient storage facilities are crucial for managing inventory within manufacturing plants. Furthermore, with the need for diverse raw materials, components, and finished goods, adequate storage space becomes essential to ensure smooth production processes. Many industries, especially in manufacturing, follow the Just-In-Time (JIT) production model, which requires storing inventory near the production line. Hence, this factor is driving the demand for the segment.
The Cranes segment is leading the Global In-Plant Logistics Market by Product in 2022; thereby, achieving a market value of $8.4 billion by 2030. Cranes are important for lifting, moving, and positioning heavy or bulky materials, machinery, and products within confined spaces, contributing to efficient material handling processes. The continuous need for efficient material movement and handling within manufacturing and warehouse environments further fuels the demand for various cranes.
The Food & Beverages segment is registering a CAGR of 11.5% during (2023 - 2030). The food & beverage industry depends on in-plant logistics to transport raw materials, packaging, and final goods throughout production while maintaining quality, ensuring food safety, and adhering to regulatory requirements. Companies operating in this sector prefer solutions that address control of temperature, hygiene, and rapid throughput, owing to the perishable nature of their products. Thus, hygiene and food safety requirements drive the segment's growth.
The Asia Pacific region dominated the Global In-Plant Logistics Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $8.6 billion by 2030. The Europe region is anticipated to grow a CAGR of 10% during (2023 - 2030). Additionally, The North America region would witness a CAGR of 10.2% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/in-plant-logistics-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of JBT Corporation, KION GROUP AG, Hyster-Yale Materials Handling, Inc., Toyota Industries Corporation, SSI Schaefer Group, Murata Machinery, Ltd., BEUMER Group GmbH & Co. KG, Honeywell International, Inc., Daifuku Co., Limited and Kuka AG (Midea Group Co., Ltd.)
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